“The Part D receivable increase will be repaid by CMS during the fourth quarter of 2025.”

In context

“now project adjusted operating income to increase by $100 million to $150 million, or to $5.7 billion to $5.75 billion. While we recognize that there have been macro shifts in the economic and consumer dynamics, our pharmacy and consumer wellness segment continues to highlight the importance of our community health locations to the consumers we serve, reflected in our growing pharmacy market share. As a result, we are pulling some of the strong first half performance into our expectations for the full year. Finally, we updated our expectation for cash flow from operations to approximately $9 billion in 2024. This decrease is primarily driven by the timing of reinsurance premiums from CMS primarily related to our standalone prescription drug products, and the impact of lower HCB earnings. The Part D receivable increase will be repaid by CMS during the fourth quarter of 2025. You can find additional details on the components of our updated 2024 guidance on our Investor Relations webpage. We plan to share more detailed 2025 guidance later this year, but I wanted to provide some updates to our previous expectations for 2025. In Medicare Advantage, we remain committed to driving meaningful improvements in our margins in 2025. As we look at the sources of pressure we discussed in our updated 2024 guidance, not all of these sources will translate into pressure on our 2025 bids. Notably within our 2025 bids, we made meaningful adjustments to our offerings, including supplemental benefits and Part D, both sources of incremental pressure in 2024. We currently project that we will improve Medicare Advantage margins between 100 and 200 basis points in 2025. This will be”